Menken Trials, an innovative medtech startup based in Tartu, has announced it has secured a significant boost in its mission to transform clinical trial operations. The company has been awarded a €1.3 million grant from Enterprise Estonia (EAS) and Kredex, which will accelerate its ambitious growth plans and enhance its cutting-edge technology. Menken Trials specializes in developing AI-driven solutions that automate clinical trial monitoring, offering real-time compliance checks and error detection to enhance efficiency and accuracy. This substantial funding will be directed towards expanding their operations into Eastern Europe and Africa, scaling their technology, and leveraging a partnership with Tenity, a Swiss-backed accelerator, to reach new markets and streamline trial processes globally.
Founded in 2021, Menken Trials is on a mission to streamline the traditionally cumbersome process of clinical trials. The startup leverages advanced AI to automate monitoring, real-time compliance checks, and error detection, aiming to make trials faster, more accurate, and efficient. This move comes at a critical time when clinical trials are still predominantly managed through manual processes, resulting in inefficiencies and increased costs.
Anna-Liisa Parts, co-founder of Menken Trials, says. “We believe that our success comes from changing the way clinical trial operations are viewed and carried out. By focusing on improving workflows, we aim to make clinical trials more efficient and compliant,.”
The €1.3 million grant, provided by the Tallinn-based EAS and Kredex, supports the startup’s efforts to broaden its market reach. The funds will enable Menken Trials to expand its operations into Eastern Europe and Africa, regions that are burgeoning with clinical research activities. This expansion aligns with Menken’s strategic goals, as it seeks to address the global need for more efficient trial management systems.
In addition to the grant, Menken Trials has recently joined Tenity, a Swiss-backed early-stage investment and acceleration program now operating in Estonia. This partnership is expected to facilitate further growth, allowing the startup to extend its footprint into Central Europe and strengthen its relationships with hospitals and biopharma companies over the next year.
“This partnership, which is already showing to be really successful, will help us expand in Central Europe, reaching more hospitals and biopharmas over the next 12 months. We are also focusing on expanding into Eastern Europe and Africa, regions with great density in clinical research,” says Parts.
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Read the orginal article: https://arcticstartup.com/menken-trials-gets-e1-3m-grant/
